The more competition of hashes the more valuable bitcoin becomes. 2018 I feel is a explosive year for crypto. 2017 was news but 2018 will drive everyone insane. Reason being I am hearing more people putting their life savings into this in hopes to cash out big. The issue is they are not thinking long term and this may make cryptos in general have hurdles to content with next year. One draw down of bitcoin can make the whole crypto market crumble.
With banks also beginning to get involved there will be new players that may likely manipulate the prices. Note even at $550 billion in market cap crypto is a drop in the bucket for bankers. Big fishes will always eat the small fishes.
Then there are the coins themselves. I have only been studying crypto since August but have never seen this many bitcoin forks in its history. I will not be surprise to see 2018 have even more than 2017. Looking at it closely every bitcoin fork has the making of something better than the original, but how much of this "better" can people accept before they turn away. The increase of coins to invest will likely take out money that could have been put directly into bitcoin and investing in the coin's updates and enchancements.
With all these hurdles I still will be thrilled to see what 2018 lies for us. There are so many potential projects worthy to partake and the potential in crypto is limitless. However how much people are willing to pay is limited. I am not putting anything more than what I am willing to lose as in the end it crypto is just 1s and 0s.
I agree with you. I also observe boom and wait what's happen?